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Discover the cost of final expense insurance with SelectQuote.

Whether you’re looking for the first time or are in a hurry to get covered, we can provide you with coverage & rates from some of the most trusted companies in just minutes.

How much does final expense insurance cost?

The cost of final expense insurance is often less than the cost of traditional life insurance, but your premium will depend on the amount of coverage you’re looking for as well as the answers to your questionnaire and/or application. Unlike some types of insurance, though, your monthly payments will never increase and your coverage will never decrease.

Types of Final Expense Insurance and Their Costs

There are three types of final expense insurance: simplified issue whole life insurance, guaranteed issue whole life insurance and critical illness life insurance. See which final expense insurance might be right for you and your family.

Simplified Issue Whole Life

  • Only a few medical questions, but no exam
  • Coverage up to $40,000 for ages 45-85
  • Premium levels to age 100

Guaranteed Issue Whole Life

  • Guaranteed acceptance
  • No medical exam or health questions
  • Coverage up to $25,000 for ages 45-85

Critical Illness

  • Pays a lump-sum benefit upon diagnosis
  • No medical exam
  • Lifetime coverage

How is the cost of final expense insurance determined?

Factors that Differ the Cost of Your Final Expense Insurance Policy

The process to obtaining final expense insurance is different than that of traditional term life insurance. Learn more about the factors that can differ the cost of your final expense insurance policy below. Keep in mind that not all final expense insurances require the following.

Pharmacy Report

Although final expense insurance doesn’t require a medical exam, some types will require other forms of health information, with a pharmacy report being one. This typically includes a list of all the medications you’ve been prescribed over a certain number of years.

Motor Vehicle Report

Again, this is not required for every final expense insurance application, but some insurance providers will help determine your lifestyle and behavior based on a variety of reports, sometimes including a motor vehicle report.

Medical Insurance Bureau Report

This kind of report is typically only required if you’ve applied for and been denied life insurance before. That factor shouldn’t necessarily disqualify you from receiving final expense insurance, it will just further help the company provide an adequate coverage and premium.

Credit & Financial History

Much like the motor vehicle report, a credit check can help insurance companies determine a certain level of reliability and risk.

Additionally, the type of policy you choose and the amount of coverage you’re looking for can also play a role in your premium and coverage, but SelectQuote can provide you with coverage options and quotes in just minutes. Let us help you see if final expense insurance is right for you.

Benefits of Final Expense Insurance

Final expense insurance can be beneficial for both seniors and individuals with health concerns, as there’s no medical exam required, but it can also be a budget-friendly option to cover end-of-life costs. The average funeral costs around $10,000, making final expense insurance an easy way to ensure your loved ones aren’t burdened if the unexpected happens. Plus, final expense insurance can cover other costs such as credit card debt, medical bills and more.

How Much Final Expense Insurance You Need

How much insurance you need will depend on how much financial security you’re hoping to provide your family. With final expense insurance, you can find coverage up to $40,000 if you’re between the ages of 45-85, but SelectQuote can help you determine how much coverage is right for you.

Let SelectQuote help you find affordable life insurance.

We make buying insurance from some of the most trusted carriers quick, easy and convenient. Whether you’re looking for a traditional term life insurance policy or a fast-track to coverage with final expense insurance, let us help.

We do the shopping. You do the saving.